Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Canada - 2024
Contents:
- Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Canada (FOB) - 2024
- Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Canada (CIF) - 2024
- Exports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Canada
- Imports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Canada
Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Canada (FOB) - 2024
In January 2024, the average export price for ferrous waste and scrap; of alloy steel (excluding stainless)s amounted to $455 per ton, with an increase of 14% against the previous month. Over the last eleven months, it increased at an average monthly rate of +1.2%. The export price peaked at $473 per ton in April 2023; however, from May 2023 to January 2024, the export prices failed to regain momentum.
Average prices varied somewhat for the major overseas markets. In January 2024, the country with the highest price was India ($484 per ton), while the average price for exports to Taiwan (Chinese) ($373 per ton) was amongst the lowest.
From February 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+1.5%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Canada (CIF) - 2024
The average import price for ferrous waste and scrap; of alloy steel (excluding stainless)s stood at $275 per ton in January 2024, picking up by 34% against the previous month. Over the period under review, the import price recorded a relatively flat trend pattern. The import price peaked at $325 per ton in May 2023; however, from June 2023 to January 2024, import prices stood at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for the United States.
From February 2023 to January 2024, the rate of growth in terms of prices for the United States amounted to +0.2% per month.
Exports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Canada
For the fourth year in a row, Canada recorded growth in overseas shipments of ferrous waste and scrap; of alloy steel (excluding stainless)s, which increased by 5.3% to 1M tons in 2022. In general, exports showed a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 66% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the immediate term.
In value terms, exports of ferrous waste and scrap; of alloy steel (excluding stainless)s contracted slightly to $484M in 2022. Over the period under review, exports saw significant growth. The pace of growth was the most pronounced in 2021 with an increase of 126% against the previous year. As a result, the exports attained the peak of $492M, and then declined modestly in the following year.
| Export of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 103 | 98.4 | 233 | 186 | 21.8% |
| Turkey | N/A | 73.5 | 155 | 176 | 54.7% |
| India | 2.0 | 2.5 | 5.9 | 54.1 | 200.2% |
| Mexico | N/A | 6.6 | 21.6 | 33.3 | 124.6% |
| Italy | N/A | N/A | 34.6 | 29.5 | -14.7% |
| Peru | N/A | 32.7 | N/A | N/A | 0% |
| Others | 5.2 | 4.0 | 41.3 | 5.8 | 3.7% |
| Total | 110 | 218 | 492 | 484 | 63.9% |
Top Export Markets for Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) from Canada in 2022:
- United States (383.9K tons)
- Turkey (365.0K tons)
- India (115.4K tons)
- Mexico (75.9K tons)
- Italy (59.0K tons)
Imports of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Canada
In 2022, imports of ferrous waste and scrap; of alloy steel (excluding stainless)s into Canada shrank to 432K tons, falling by -4.6% against the year before. Over the period under review, imports saw a abrupt curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 105%.
In value terms, imports of ferrous waste and scrap; of alloy steel (excluding stainless)s surged to $52M in 2022. In general, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 142% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.
| Import of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 34.0 | 16.1 | 39.0 | 51.7 | 15.0% |
| Others | N/A | 0.1 | N/A | N/A | 0% |
| Total | 34.0 | 16.2 | 39.1 | 51.7 | 15.0% |
Top Suppliers of Ferrous Waste and Scrap; of Alloy Steel (Excluding Stainless) to Canada in 2022:
- United States (431.6K tons)
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